The year 2023 was a turbulent one for the crypto industry, with highs and lows, triumphs and tragedies, heroes and villains. As the year comes to an end, let’s take a moment to reflect on some of the most influential figures who shaped the crypto landscape for better or worse.
One of the undisputed Santas of crypto in 2023 was Changpeng Zhao, the founder and CEO of Binance, the world’s largest crypto exchange by trading volume and users. Zhao, also known as CZ, led Binance through a challenging year of regulatory scrutiny, market volatility, and fierce competition, while maintaining its dominance and reputation.
CZ was not afraid to take bold moves and innovate, such as launching the Binance Smart Chain, a low-cost and high-performance blockchain platform that hosts many popular decentralized applications (DApps) and tokens. He also invested in various crypto projects and initiatives, such as Twitter, Solana, and Polygon, to support the growth and adoption of the industry.
CZ was also generous and charitable, donating millions of dollars to various causes, such as COVID-19 relief, education, and environmental protection. He also advocated for more inclusivity and diversity in crypto, supporting women and underrepresented groups in the space.
CZ’s influence and popularity were evident in his massive social media following, with over 8 million Twitter followers and millions of fans on other platforms. He was also recognized as one of the most influential people in crypto by various media outlets and organizations.
Gary Gensler: The Grinch of crypto regulation
On the opposite end of the spectrum, one of the most notorious Grinches of crypto in 2023 was Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC). Gensler, a former MIT professor and Goldman Sachs executive, was appointed by President Joe Biden in January 2023, with high hopes that he would bring a more balanced and nuanced approach to crypto regulation, given his background and expertise in the field.
However, Gensler quickly dashed those hopes, as he adopted a more aggressive and hostile stance towards crypto, pursuing various enforcement actions, lawsuits, and investigations against crypto companies, projects, and individuals. He also resisted calls for more clarity and guidance on the regulatory status of crypto assets, instead insisting that most of them are securities and subject to the SEC’s jurisdiction and oversight.
Gensler’s actions and statements drew widespread criticism and backlash from the crypto community, as well as from some lawmakers, industry leaders, and legal experts, who accused him of stifling innovation, creating uncertainty, and overstepping his authority. He also faced several challenges and setbacks in the courts, as some of his cases were dismissed, delayed, or appealed.
Gensler’s reputation and credibility were tarnished by his controversial and unpopular moves, as he became one of the most disliked and distrusted figures in crypto. He also lost some of his allies and supporters, as some of his former colleagues and students expressed their disappointment and disagreement with his approach.
Vitalik Buterin: The Santa of crypto innovation
Another Santa of crypto in 2023 was Vitalik Buterin, the co-founder and chief scientist of Ethereum, the second-largest and most widely used blockchain platform in the world. Buterin, a prodigy and visionary, continued to lead and inspire the Ethereum community and the broader crypto industry with his innovation, creativity, and passion.
Buterin oversaw the successful launch and implementation of Ethereum 2.0, a major upgrade that transformed Ethereum from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism, improving its scalability, security, and sustainability. He also contributed to the development and adoption of various DApps, protocols, and standards on Ethereum, such as decentralized finance (DeFi), nonfungible tokens (NFTs), and decentralized autonomous organizations (DAOs).
Buterin was also humble and altruistic, donating billions of dollars worth of crypto to various causes, such as COVID-19 relief, animal welfare, and public health. He also supported and mentored many young and aspiring crypto developers and entrepreneurs, sharing his knowledge and experience with them.
Buterin’s influence and impact were undeniable, as he was widely regarded as one of the most brilliant and influential minds in crypto. He was also honored and celebrated by various media outlets and organizations, such as Time, Fortune, and the World Economic Forum, for his achievements and contributions.
Sam Bankman-Fried: The Grinch of crypto trading
One of the Grinches of crypto in 2023 was Sam Bankman-Fried, the founder and CEO of FTX, one of the largest and most popular crypto derivatives exchanges in the world. Bankman-Fried, a former Wall Street trader and billionaire philanthropist, was once hailed as a rising star and a role model in crypto, but his reputation and image took a hit in 2023, as he faced several scandals, controversies, and failures.
Bankman-Fried was accused of engaging in unethical and illegal trading practices, such as market manipulation, insider trading, and front-running, using his influence and access to exploit and harm his customers and competitors. He was also involved in several disputes and lawsuits with other crypto exchanges, regulators, and investors, over issues such as intellectual property, market data, and contract terms.
Bankman-Fried’s ambitions and ego also got the better of him, as he tried to expand and dominate the crypto market, but ended up overreaching and underdelivering. He failed to acquire and integrate several crypto companies and platforms, such as Coinbase, Binance, and Uniswap, due to regulatory hurdles, technical difficulties, and user backlash. He also launched several products and services, such as FTX Pay, FTX NFTs, and FTX Sports, but they failed to gain traction and adoption, due to poor design, execution, and marketing.
Bankman-Fried’s downfall and decline were evident, as he lost his position and prestige in the crypto industry. He also faced a lot of criticism and resentment from the crypto community, as well as from some of his former allies and partners, who felt betrayed and disappointed by his actions and attitude.
Elon Musk: The Santa of crypto adoption
One of the Santas of crypto in 2023 was Elon Musk, the founder and CEO of Tesla, SpaceX, and Neuralink, and one of the richest and most influential people in the world. Musk, a visionary and innovator, played a pivotal role in promoting and advancing the adoption and acceptance of crypto, both by the public and by the institutions.
Musk was a vocal and enthusiastic supporter and advocate of crypto, especially Bitcoin ( BTC) and Dogecoin ( DOGE), using his massive social media platform and influence to educate and entertain his followers and fans about the benefits and potential of crypto. He also made several announcements and decisions that boosted the price and popularity of crypto, such as accepting Bitcoin as a payment option for Tesla vehicles, launching a Dogecoin-funded mission to the moon, and creating a decentralized city powered by crypto.
Musk was also adventurous and experimental, exploring and investing in various crypto projects and initiatives, such as Starlink, a satellite-based internet service that enables global access to crypto, Neuralink, a brain-computer interface that allows direct interaction with crypto, and The Boring Company, a tunnel construction company that uses crypto to fund and operate its projects.
Musk’s influence and impact were immense, as he was widely recognized and respected as one of the most prominent and positive figures in crypto. He was also praised and appreciated by various media outlets and organizations, such as Forbes, Bloomberg, and the Crypto Awards, for his achievements and contributions.
